20 Jan Nobel Laureate Robert Shiller Doesn’t Know What to Make of Digital Currency Bitcoin
Most people have an opinion on bitcoin at this point in time. But it is hard to maintain a steady outlook on the digital currency due to the fact that the price is starting to fluctuate almost at a daily rate.
It’s for these reasons that people are calling bitcoin a speculative bubble. The latest to join in on the conversation is Robert Shiller, a professor of economics at Yale University, located in New Haven, Connecticut.
In the past, Shiller has been fairly vocal on where he stands when it comes to bitcoin. In fact, several months ago, the Nobel Laureate stated that the digital currency “has no value at all unless there is some common consensus that it has value.”
Further, he also stated in September of last year that bitcoin is the “best example of a bubble.”
That being said, it seems Shiller is neither for bitcoin now nor is he against it – he seems genuinely at a loss for words when it comes to the currency. Yesterday, Shiller said in an interview with CNBC that he “doesn’t know what to make of Bitcoin ultimately.”
Shiller might be confused, and he might still believe that the currency will one day implode, like many other well-known figures believe, but he did say that whether bitcoin collapses and is forgotten, he suspects that the cryptocurrency “could linger on for a good long time,” adding that the collapse could be here “in 100 years.”
Can you imagine another 100 years of this? Another 100 years of constantly waking up to see whether or not the price of bitcoin has dropped – like it has been as of late – or if it soared.
I don’t know about you, but I’m not sure I could take another 100 years of that.
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